Hoo-hoo-Hoosiers!!! We have a new Hoosier in the house now! That’s right, our daughter Ana has officially committed to IU Bloomington for the Fall. She is a Direct Admit to the Kelley School of Business to study marketing and Brigid and I couldn’t be any prouder! We visited this past weekend for Direct Admit Day and were so impressed with the program, curriculum, support and, of course the campus, which is ranked as one of the most beautiful in the US. The Kelley School of Business is ranked #8 in the US as well. A LOT is about to change and, frankly I, for one, am not ready for Ana to leave home. I really don’t know how you all did it when your kids left for college. We will deeply miss Ana later this year, but know this is her next step in her journey and we support her 100%. Now, looks like I need to buy some IU gear as I have absolutely nada.
Ana and Brigid are in Anna Maria Island as I write this on Ana’s senior year spring break with a bunch of her friends. Sounds like they are having a great time! Tali and I leave on Saturday to Whistler, Canada to go skiing. Brigid will be flying up to join us (not ski, but rather knit in the lodge) while Ana stays home with our dog Duke and goes to school. This will be the first time I have skied in over 30-years, so wish me luck!!! Tali will be learning how to ski as this will be her first time on skis.
Speaking of Tali, we are so proud of her and her competitive cheer team as they ended up #1 in the Nation and won the Golden Buzzer at their last competition. This means they have earned a fully-paid bid to Nationals in Orlando in May. She and her teammates have worked so hard for this and we can’t wait to see how they do against some really stiff competition from all over the US.
The other super-exciting news is that Thea is just a few weeks away from her due date of May 11th!!! She and baby are doing great and she can’t wait to meet him/her. We are excited for her and Michael and can’t wait to see little baby Snelly!! While Thea is on maternity leave, an agent in our office Helena Hoen will be helping us with our buyers. Thea has been working closely with Helena so she will be ready to help when Thea is out. We are so excited Helena is on the team and has fit right in!
Thank you to Butler University for inviting me back to speak to your faculty and staff after a COVID break. If you work at Butler, I hope you will join me on Wednesday, April 11th from 12-1pm where I will be teaching a brand new workshop entitled the Top 7 Dumb Mistakes Smart People Make in Today’s Real Estate Market.
If you or someone you care about would like to learn some of these and don’t work at Butler join me from 7-8:30pm on Zoom that night where I will be hosting another workshop titled The Top 10 Dumb Mistakes Smart People Make When Selling Their House. E-mail me at steve@Welcome2Indy.com to register.
If you or someone you care about are thinking of buying a house this year, you can’t miss Thea’s Buyer Workshop on Wednesday, April 26th from 5-6:30pm where she will walk you through the buying process and common mistakes to avoid in this crazy real estate market. E-mail thea@Welcome2Indy.com to register.
Don’t miss our Happy Hour on Thursday, April 20th from 5-6:30pm at Matt The Miller’s in Carmel for some fun conversation, meet new friends and enjoy some cold drinks and hot appetizers on me! E-mail kylie@Welcome2Indy.com to register.
The housing market continues to be front page of the news. The market is absolutely heating back up again and we are seeing many houses (not all) receiving multiple offers above asking price. Interest rates are slowly coming back down and should continue to do so throughout the year. Housing appreciation has cooled, but is NOT contracting. Inventory, while still stubbornly low, has risen a bit, but but is far from being where we need it. That will take years to get back to where we need it to be. Indiana is 30,000 housing units short of current demand and the US is over 1.7 million housing units short of demand. The gap continues to grow.
See below stats from MIBOR comparing February 2023 to January 2023:
Median Sales Price-UP 0.7% to $275,000
Closed Sales-UP 20.1% to 1,850 units
New Listings-UP 7.6% to 2,202 units
Pending Sales-UP 9.7% to 2,502 units
Days on Market-DOWN 13.1% to 53 days
Price per s.f.-DOWN 6.4% to $146
% of Asking Price Received-UP 0.6% to 97.5%
Active Inventory-DOWN 18.9% to 2,883 units
Absorption Rate-DOWN 30.4% to 1.6 months (this is UP 128.6% from 2/2022 when it was 0.7 months)
We hope you are enjoying the first weeks of spring and the longer daylight in the evenings. We also hope that you have a wonderful Easter.
Please enjoy this month’s newsletter and let us know what you think about it. We really try to find fun and entertaining articles and stories that are a quick read. How did we do? Click here to read our April newsletter.
Happy Spring!!!
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret!
